Brian Klingbail
Ordinary business income vs. long term cap gain on K1
Hello All,I just got back my K1 from the accountant on a property that I purchased in 3/2013, rented out and then sold in 6/2014. The K1 has all of the profit listed on line 1 as ordinary business income and does not...
Malcome Baggett
Greetings, Salutations and a how do you do!
Hello, My name is Malcome Baggett I hail from Jacksonville, Florida and I am a budding Real Estate Investor. Currently I am taking an online real estate licensing course in addition to working full time and taking 16 ...
Jon S.
New member - Tampa
I'm new here, I'm in Tampa, I've been reading BP Forum posts for a few months now. I've found that there is a treasure trove of information here. I find that most questions I want to ask have already been asked and a...
Jim Hart
referred to a property. Already listed with foreclosure agent.
A good friend told me of a property belonging to the family of his kid's friend. Father passed away a 6 months ago. I'm told by my friend: $70,000 back taxes due. I checked two most recent installments paid. Wife...
Ching Yang
Are investors just a bunch of scam artists?
So I got a lead on a property that I was planning to wholesale to some investors/buyers. Upon meeting with the lady and having some small talk with her and then I started talking business and started getting into my "...
Michael Fortier
Questions about buying a mobile home in a trailer park.
Howdy everyone.I am very interested in purchasing mobile homes for cash and owner financing them to buyers. But I have a few questions first.How does a mobile home sale work? Is it more like a sale of a car or like a ...
Jonathan Vese
Double closing in Washington state
Hey everyone. I'm about to close a deal and assign it to a buyer. The spread is very large and I heard in Washington state it's illegal to double close. Is that true? Please write me back because this deal needs to cl...
Tab B.
fha 203k how soon can i sell?
hello. im planning to buy my first property to flip. i will be doing the work myself (10 years construction experience) but dont own the company. i was planning on using fha203k to buy the house for 100k and 30-50k to...
Wade Stahle
Capital gains, selling 2 months before 2 years.
Hi BP,I am planning on selling my house before the 2 year mark. However, I am at about 22 months of ownership. Will I owe capital gains taxes? If so how much and how did you calculate this? Purchase price was $187,000...
Eddie Memphis
Colorado Cabin Conumdrum
A friend is about to lose a cabin that has been in his family since the late 60’s or early 70’s. It is on one acre less than an hour from Colorado Springs. Uphill.The cabin is about 950 square feet, has electrical ser...